Starbucks Co. (NASDAQ:SBUX) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 98,462 shares of the coffee company’s stock after selling 4,991 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Starbucks were worth $7,665,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Vima LLC purchased a new stake in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Finally, DSM Capital Partners LLC purchased a new position in Starbucks in the 4th quarter valued at approximately $27,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBUX. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Bank of America lifted their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $99.83.

Starbucks Stock Performance

Shares of SBUX stock opened at $96.44 on Wednesday. The firm has a market capitalization of $109.29 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a 50 day moving average price of $85.30 and a 200 day moving average price of $83.89.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.